Mortgage in France

Buying a home in France is a different experience than in Scandinavia. However, the rights of the buyer are well protected due to stricter consumer legislation. It is important that you have a pre-qualification letter when you sign a preliminary agreement. Unlike French banks, DNB Luxembourg requires no life insurance if you require a loan secured against your French property.

• We require a signed preliminary purchase agreement together with your loan application.
• The processing of your loan application takes from one to two weeks.
• If the loan is granted, we will send you a commitment letter.
• Once the purchase contract (acte de vente) is finalised, the loan agreement can be issued. This must be kept for 11 days before it is signed and returned to the bank.
• The signed loan agreement is sent to the notary public who will contact the customer for the necessary documents for taking out the mortgage.
• The date for the meeting with the notary public will then be agreed and we will send the entire loan amount to our client account at the notary public. The property is then transferred and the mortgage is established during this meeting.
• When refinancing, only costs for the establishment of the mortgage are charged.
• The loan is paid when the mortgage is established.

• You must first sign a preliminary purchase contract (compromis de vente) where the buyer has a seven-day cooling-off period during which the purchase can be cancelled without entailing extra fees.
• Payment of 10 per cent of the purchase price by the end of the cooling-off period.
• Final conclusion of purchase contract (acte de vente).
• The take-over of the property and payment of the outstanding amount takes place at the notary public after approximately two to three months.